“ Co-living properties provide residents the opportunity to live in a great neighborhood for 30 percent less thanwhat a studio or one-bedroom costs. ”
COVID-19 isolated many of us, forced us to stay out of the office and shelter in our homes. Loneliness effects all age groups and as Pinker’s book suggests, 20-40 percent of adults report feeling lonely; it seems likely that those statistics increased during the pandemic. In addition to being mentally challenging, loneliness has real physical implications. Dr Julianne Holt-Lunstad, PhD, a professor of psy- chology at Brigham Young University, says loneliness ranks as detrimental as smoking and obesity and people who are lonely are 32 percent more likely to die early than those who are connected to their peers. Those who live with others during the pandemic benefited from being able to continue to socialize. Co-Liv- ing provides the ability to have your own personal space but live with oth- ers and share common areas such as a kitchen, living room, and outdoor space. Many of our residents choose to renew their lease and stay longer because of the close relationships they develop with their roommates. THE FUTURE OF CO-LIVING Over the past ten years co-living has emerged as an effective solution not only to rising rents in urban areas, but to address other trends like people getting married later in life, travel- ing more, and changing jobs more frequently. While COVID-19 shocked our health system and our economy, it has not disrupted those trends. Many will still flock to cities to find jobs, go to school, and be with a diverse group of people. Many will want or need to spend less on rent and more on other areas of their life that they value more and for those that do, co-living will remain an attractive option. As the cohort that values experiences and flexibility grows, so will co-living. •
health of their environment. Owners and developers will be incentivized to provide a better and healthier product, which will further galvanize property tech companies to innovate and build new tools to raise the standards of healthy living. Several examples of innovative companies already providing health and wellness solutions: has launched a Home Wellness Intelligence system called DELOS Darwin, which monitors various conditions of the physical environ- ment and takes action to improve those conditions, such as air quality and lighting. HEALTHE LIGHTING has released various lighting solutions one of which called Cleanse® uses ultravio- let lighting to sanitize surfaces and can be installed at entrances of buildings. has launched a cleaning service including a micro- biostatic antimicrobial coating that kills COVID-19 and other viruses. SURFACEGUARD PEOPLEWANTANDNEED COMMUNITY The pandemic made us acutely aware of one negative aspect of being so connected to other people—the ability to contract a deadly disease. While it is difficult not to focus on the depth of that downside, it is import - ant to understand how important our connection to each other is and will continue to be in the future. Susan Pinker, in her book The Village Effect, cites numerous studies that illustrate the power of close relationships and living together. One such study suggests that people with active social lives can increase their lifespan up to 15 years.
their budgets. Dealing with a pro- jected $700 million loss, the Mayor of the District of Columbia made the decision to cut spending on afford - able housing by $16 million. Many cities already have a severe shortage of affordable housing and reduced spending on affordable housing will only exacerbate the issue and create a more dire supply and demand imbalance. Fortunately, co-living is one product that can be utilized to create a more affordable option for residents often without the use of public subsidy. MOREAWARENESS OFOUR PHYSICAL ENVIRONMENT All of us are more aware of the surfaces we touch, the air we breathe, and the environment where we live. Residents will be more demanding of their property managers and building owners to ensure that there is not only adequate cleaning, but that there is transparency about the overall
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